Mobikwik IPO Opens On Wednesday: Check Key Dates, Price Band, GMP, Detail

Mobikwik's initial public offering ( IPO ) is all set to open for subscription on Wednesday, December 11, in the Indian markets.

Key Dates

The subscription period starts from Wednesday and goes on to Friday, that is between December 11 to December 13, 2024.

Price Band

The price band for the Mobikwik IPO is between Rs 265 and Rs 279 per share.  

IPO Size

The fintech firm aims to raise Rs 572 crore through a completely fresh issue of shares.

Lot Size

Each lot comprises of 53 shares in this initial public offering.

Grey Market Prices

The shares of the fintech firm have already surfaced in the grey market ahead of the IPO's official opening and they are trading at Rs 132 per share, according to market observers.

The GMP is the unofficial market price of a company's shares before they are floated in the markets officially or listed in the stock exchanges.

They grey market is usually used by traders and investors to gauge the market sentiment about an IPO.

Since GMP is not a regulated metric, it can fluctuate depending on market conditions and is speculative.

What Will The Funds Be Used For?

The company plans to use the funds for organic growth in its financial services business, research and development in artificial intelligence, machine learning and technology, expansion and general corporate purposes.